Tennessee Department of Treasury

The purchaser has the right to change the beneficiary of the account at any time provided the new beneficiary is a "member of the family" as the original beneficiary, as defined in program guidelines, and provided that either the purchaser or the new beneficiary is a Tennessee resident at the time of the change.

The purchaser has the right at any time to transfer all or a portion of the tuition units in the beneficiary's account to an account for a different beneficiary provided such beneficiary is a "member of the family" as the original beneficiary; as such term is defined in program guidelines. If the transfer is for a portion of the tuition units in the original beneficiary's account, the transfer will be permitted so long as at the time the transfer is completed by the Board, the existing beneficiary and the new beneficiary will each have at least ten (10) tuition units in their respective accounts. If the new beneficiary does not have an existing account, then either the purchaser or the new beneficiary must be a Tennessee resident at the time of the transfer.

**A $25 fee may be applied if units are transferred to another beneficiary in the family.

Any change of beneficiary or transfer of tuition units is subject to the following conditions:

Any request to change beneficiaries or to transfer tuition units must be made in writing, must state the name and Social Security number of the proposed new beneficiary and must be signed by the purchaser or, if the purchaser is dead or is legally incompetent, by the purchaser's appointee. If the request is for a transfer of tuition units to an existing account, the written request must state the account number to which the transfer is to be made;
If the request is for a transfer of tuition units, a transfer fee may be paid to Board. If the request is for a change of beneficiary, an application fee may be paid to the Board; and
Transfers or changes in beneficiaries shall not be permitted to the extent that they would constitute excess contributions under the Program.

A change of beneficiary notice should be submitted in writing. The notice should meet all guidelines as indicated above. Click here for the Request for Transfer form.

Address changes should be submitted immediately to BEST to ensure timely receipt of all correspondence. All changes must be in writing.

Please review the confirmation statement carefully for accuracy and notify BEST immediately of any corrections or changes at anytime there are changes. Remember all changes to an account must be done in writing. Send any changes to:

Tennessee's BEST Prepaid Plan
P.O. Box 198786
Nashville, TN 37219-8786
or
fax (615) 401-6816